Jaks Resources inched above the RM0.94 level in its latest session. With a moderate RSI level, it may move higher above this point with a target price of RM1.01, followed by RM1.11. Meanwhile, it may turn sideways if it falls back below the RM0.94 mark in the near term. In this case, support is anticipated at RM0.87, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy on further rebound above RM0.94

Target: RM1.01, RM1.11 (time frame: 3-6 weeks)

Exit: RM0.87

Source: AmInvest Research - 19 Sept 2018